Split-adjusted prices are important because they allow investors to compare the stock's price before and after a split without the distortion caused by the split itself. Without adjusting for splits, historical performance charts would appear skewed, as the price would drop following the split, even though the overall value of the stock did not change. For example, in a 2-for-1 stock split, an investor would receive two shares for every one they held, but the price per share would be halved.